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Level 2

Question

How can I have a negative basis?

Forum|Forum|5 years ago
March 28, 2021
10 replies
95 views

Turbotax says I have a negative basis.

TurboTax Premier Online

Alumni - Intuit

Please clarify - where does the program say you have a negative basis?

mvoswhc8364Author

Level 2

When I do the "Your completecheck™ to-do list" and then click Review, it says:

"IRS Rules Don't Allow E-filing for Your Federal Return

"Why? Well, it looks like you have a tax situation in your federal return that makes it ineligible for e-filing.

"Here are the details:

"You have negative cost or other basis on Form 8949, Sales and Other Dispositions of Capital Assets."

I do not know where I have a negative basis on any of my sales.

Alumni - Intuit

Did the Review screen give you the option of correcting/changing the cost basis?